TD Private Client Wealth LLC Grows Stock Position in PulteGroup, Inc. (NYSE:PHM)

TD Private Client Wealth LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 11.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,064 shares of the construction company’s stock after purchasing an additional 205 shares during the quarter. TD Private Client Wealth LLC’s holdings in PulteGroup were worth $225,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Semanteon Capital Management LP acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $1,012,000. Blueshift Asset Management LLC purchased a new stake in PulteGroup during the 4th quarter valued at about $543,000. Teacher Retirement System of Texas raised its holdings in PulteGroup by 32.2% in the 4th quarter. Teacher Retirement System of Texas now owns 316,811 shares of the construction company’s stock valued at $34,501,000 after acquiring an additional 77,189 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in PulteGroup by 12.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 108,643 shares of the construction company’s stock worth $11,831,000 after purchasing an additional 12,090 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in shares of PulteGroup during the 4th quarter worth approximately $3,718,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PHM. Barclays reduced their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group reduced their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Bank of America cut their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, Citigroup decreased their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Price Performance

PHM opened at $105.28 on Wednesday. The stock’s 50-day moving average price is $108.34 and its 200 day moving average price is $121.83. PulteGroup, Inc. has a 12-month low of $100.35 and a 12-month high of $149.47. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its Board of Directors has approved a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.